Scott Pelley reports on the mortgage crisis that's far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession.

published:14 Dec 2008

views:87865

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace.
Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people began their fight back. Finally, it asks how the world can prepare for the next crisis even as it recognises that this one is far from over.
We hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.
http://www.RebelMystic.com

published:24 Nov 2013

views:1747848

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch the full-length program at Buy the DVD at .
PBS America | Sky 534 | Virgin Media 243 | pbsamerica.co.uk This documentary investigates the causes of the worst financial crisis in 70 years and how the US .
Watch the full-length program at Buy the DVD at .

What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'We examine how our interconnected finance systems left the world vulnerable to recession and worse.
Watch the Full film on Journeyman:
http://jman.tv/film/2556/Mortgage+Meltdown
Or for downloads and more information:
http://www.journeyman.tv/?lid=57596
What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'Mortgage Meltdown' examines how our interconnected finance systems left the world vulnerable to a global credit crunch. It traces the current crisis to the fallout from September 11, hearing from the families now facing destitution while the 'market corrects'. With banks now afraid to lend to each other, the subprime mortgage crisis threatens to push America, and possibly the rest of the world, into recession.
Produced by ABC Australia
Distributed by Journeyman Pictures

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Crisis?
https://www.youtube.com/watch?v=7V1IMBzH2J8
The Financial Crisis Is Forcing America To Redefine Their Values
https://www.youtube.com/watch?v=Em02NgDczT4
The Small NorwegianTown Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
For downloads and more information visit:
http://www.journeyman.tv/film/4044
Like us on Facebook:
https://www.facebook.com/journeymanpictures
Follow us on Twitter:
https://twitter.com/JourneymanVOD
https://twitter.com/JourneymanNews
Follow us on Instagram:
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This year, millions of homes in the US will be repossessed. Wall Street was aware of the risks involved with sub-prime lending but chose to ignore them. No ethics, just money- here is a story of greed and recklessness
In California, the sub prime crisis has hit homeowners full on. Repossessions have become routine and the foreclosure rate is still accelerating. Neat façades and tidy gardens can't prevent houses being sold for almost half of what they cost a year ago. Pressed for time and money, owners are torn out of their homes: "It's like leaving your children" says Rob. He is hoping the bank will accept a quick sale and forgive the loss, but this is unlikely. Most are made to wait until they default on repayment, which wrecks their credit record. Former bankers reveal how low interest rates were meant to boost the economy. Banks looked for ways to make profit despite low rates and chased high-risk mortgages that would pay 8 or 9%, ignoring the consequences for borrowers if prices fell and interest rates rose again: "There's no perception of the guy in some tiny little house in Detroit or in Philadelphia or in Stockton who basically might be losing their home." Now that the system has failed, banks are less ready to lend money and this impacts on the entire economy. Families lose their homes, businesses fail; Wall Street gambled and the world has to pay.
SBS Australia – Ref. 4044
JourneymanPictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.

published:13 Jun 2016

views:129413

Capitalism: Success, Crisis and Reform (PLSC 270)
Professor Rae discusses the subprime mortgage crisis. Major actors are presented and analyzed, including homebuyers, brokers, appraisers, lenders, i-banks, and rating and government agencies. Major actors' incentives and risks are assessed. Professor Rae also presents a brief history of government involvement in mortgage markets. Deregulation of the industry and its consequences are explored, and Professor Rae facilitates a discussion on apportioning blame for the collapse of the U.S. housing market.
Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses
This course was recorded in Fall 2009.

Using RSAnimate technique, provides illustration and explanation of the causes that contributed to the subprime mortgage housing crisis of 2008/2009

published:03 May 2012

views:94983

I received an email back in February, 2008. Attached was an anonymous power point explaining (what we thought at the time) was only the mortgage meltdown. This mortgage meltdown led to the current financial crisis. I have taken this power point (cleaned up some of the language) and added the music of Pink Floyd's Money.
Stick figures work their way through the tangled web of the mortgage process. They start with the home buyer and go all the way to where we find ourselves today. They take the complicated and make it simple.
Please enjoy and post any comments.

Mortgage loan

A mortgage loan, also referred to as a mortgage, is used by purchasers of real property to raise funds to buy real estate; or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property. This means that a legal mechanism is put in place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event that the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a "Law French" term used by English lawyers in the Middle Ages meaning "death pledge", and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.
Mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan).

Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property (for example, their own business premises, residential property let to tenants or an investment portfolio). The lender will typically be a financial institution, such as a bank, credit union or building society, depending on the country concerned, and the loan arrangements can be made either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably. The lender's rights over the secured property take priority over the borrower's other creditors which means that if the borrower becomes bankrupt or insolvent, the other creditors will only be repaid the debts owed to them from a sale of the secured property if the mortgage lender is repaid in full first.

Financial crisis

The term financial crisis is applied broadly to a variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in changes in the real economy.

Many economists have offered theories about how financial crises develop and how they could be prevented. There is no consensus, however, and financial crises continue to occur from time to time.

Types

Banking crisis

When a bank suffers a sudden rush of withdrawals by depositors, this is called a bank run. Since banks lend out most of the cash they receive in deposits (see fractional-reserve banking), it is difficult for them to quickly pay back all deposits if these are suddenly demanded, so a run renders the bank insolvent, causing customers to lose their deposits, to the extent that they are not covered by deposit insurance. An event in which bank runs are widespread is called a systemic banking crisis or banking panic.

The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with the Federal National Mortgage Association (Fannie Mae), Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", is a variant of the initialism of the company's full name that had been adopted officially for ease of identification.

History

The Great Depression wreaked havoc on the U.S. housing market. By 1933, an estimated 20-25% of the nation's outstanding mortgage debt was in default. Fannie Mae was established in 1938 by amendments to the National Housing Act as part of Franklin Delano Roosevelt's New Deal. Originally chartered as the National Mortgage Association of Washington, the organization's purpose was to provide local banks with federal money to finance home mortgages in an attempt to raise levels of home ownership and the availability of affordable housing. Fannie Mae created a liquid secondary mortgage market and thereby made it possible for banks and other loan originators to issue more housing loans, primarily by buying Federal Housing Administration (FHA) insured mortgages. For the first thirty years following its inception, Fannie Mae held a monopoly over the secondary mortgage market.

The Mortgage Meltdown

Scott Pelley reports on the mortgage crisis that's far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession.

2:49:16

Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films

Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films

Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace.
Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people began their fight back. Finally, it asks how the world can prepare for the next crisis even as it recognises that this one is far from over.
We hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.
http://www.RebelMystic.com

56:23

Pbs Frontline Inside the Meltdown

Pbs Frontline Inside the Meltdown

Pbs Frontline Inside the Meltdown

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch the full-length program at Buy the DVD at .
PBS America | Sky 534 | Virgin Media 243 | pbsamerica.co.uk This documentary investigates the causes of the worst financial crisis in 70 years and how the US .
Watch the full-length program at Buy the DVD at .

Mortgage Meltdown - Ten Minute Preview

What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'We examine how our interconnected finance systems left the world vulnerable to recession and worse.
Watch the Full film on Journeyman:
http://jman.tv/film/2556/Mortgage+Meltdown
Or for downloads and more information:
http://www.journeyman.tv/?lid=57596
What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'Mortgage Meltdown' examines how our interconnected finance systems left the world vulnerable to a global credit crunch. It traces the current crisis to the fallout from September 11, hearing from the families now facing destitution while the 'market corrects'. With banks now afraid to lend to each other, the subprime mortgage crisis threatens to push America, and possibly the rest of the world, into recession.
Produced by ABC Australia
Distributed by Journeyman Pictures

Meet the California Homeowners Hit Hard by the Housing Crisis

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Crisis?
https://www.youtube.com/watch?v=7V1IMBzH2J8
The Financial Crisis Is Forcing America To Redefine Their Values
https://www.youtube.com/watch?v=Em02NgDczT4
The Small NorwegianTown Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
For downloads and more information visit:
http://www.journeyman.tv/film/4044
Like us on Facebook:
https://www.facebook.com/journeymanpictures
Follow us on Twitter:
https://twitter.com/JourneymanVOD
https://twitter.com/JourneymanNews
Follow us on Instagram:
https://instagram.com/journeymanpictures
This year, millions of homes in the US will be repossessed. Wall Street was aware of the risks involved with sub-prime lending but chose to ignore them. No ethics, just money- here is a story of greed and recklessness
In California, the sub prime crisis has hit homeowners full on. Repossessions have become routine and the foreclosure rate is still accelerating. Neat façades and tidy gardens can't prevent houses being sold for almost half of what they cost a year ago. Pressed for time and money, owners are torn out of their homes: "It's like leaving your children" says Rob. He is hoping the bank will accept a quick sale and forgive the loss, but this is unlikely. Most are made to wait until they default on repayment, which wrecks their credit record. Former bankers reveal how low interest rates were meant to boost the economy. Banks looked for ways to make profit despite low rates and chased high-risk mortgages that would pay 8 or 9%, ignoring the consequences for borrowers if prices fell and interest rates rose again: "There's no perception of the guy in some tiny little house in Detroit or in Philadelphia or in Stockton who basically might be losing their home." Now that the system has failed, banks are less ready to lend money and this impacts on the entire economy. Families lose their homes, businesses fail; Wall Street gambled and the world has to pay.
SBS Australia – Ref. 4044
JourneymanPictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.

49:10

13. The Mortgage Meltdown in Cleveland

13. The Mortgage Meltdown in Cleveland

13. The Mortgage Meltdown in Cleveland

Capitalism: Success, Crisis and Reform (PLSC 270)
Professor Rae discusses the subprime mortgage crisis. Major actors are presented and analyzed, including homebuyers, brokers, appraisers, lenders, i-banks, and rating and government agencies. Major actors' incentives and risks are assessed. Professor Rae also presents a brief history of government involvement in mortgage markets. Deregulation of the industry and its consequences are explored, and Professor Rae facilitates a discussion on apportioning blame for the collapse of the U.S. housing market.
Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses
This course was recorded in Fall 2009.

Good Explanation of the Subprime Mortgage Crisis

Using RSAnimate technique, provides illustration and explanation of the causes that contributed to the subprime mortgage housing crisis of 2008/2009

6:25

Mortgage Meltdown and Financial Crisis explained in video.

Mortgage Meltdown and Financial Crisis explained in video.

Mortgage Meltdown and Financial Crisis explained in video.

I received an email back in February, 2008. Attached was an anonymous power point explaining (what we thought at the time) was only the mortgage meltdown. This mortgage meltdown led to the current financial crisis. I have taken this power point (cleaned up some of the language) and added the music of Pink Floyd's Money.
Stick figures work their way through the tangled web of the mortgage process. They start with the home buyer and go all the way to where we find ourselves today. They take the complicated and make it simple.
Please enjoy and post any comments.

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. About the book: https://www.amazon.com/gp/product/0990976300/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0990976300&linkCode=as2&tag=tra0c7-20&linkId=59d18b8225ed6599b8b8050a523b67cc
The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. The mortgages of an MBS may be residential or commercial, depending on whether it is an Agency MBS or a Non-Agency MBS; in the United States they may be issued by structures set up by government-sponsored enterprises like Fannie Mae or Freddie Mac, or they can be "private-label", issued by structures set up by investment banks. The structure of the MBS may be known as "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs. Other types of MBS include collateralized mortgage obligations (CMOs, often structured as real estate mortgage investment conduits) and collateralized debt obligations (CDOs).[1]
The shares of subprime MBSs issued by various structures, such as CMOs, are not identical but rather issued as tranches (French for "slices"), each with a different level of priority in the debt repayment stream, giving them different levels of risk and reward. Tranches—especially the lower-priority, higher-interest tranches—of an MBS are/were often further repackaged and resold as collaterized debt obligations.[2] These subprime MBSs issued by investment banks were a major issue in the subprime mortgage crisis of 2006–8.
The total face value of an MBS decreases over time, because like mortgages, and unlike bonds, and most other fixed-income securities, the principal in an MBS is not paid back as a single payment to the bond holder at maturity but rather is paid along with the interest in each periodic payment (monthly, quarterly, etc.). This decrease in face value is measured by the MBS's "factor", the percentage of the original "face" that remains to be repaid.
https://en.wikipedia.org/wiki/Mortgage-backed_security
The FederalNationalMortgageAssociation (FNMA), commonly known as Fannie Mae, was founded in 1938 during the Great Depression as part of the New Deal. It is a government-sponsored enterprise (GSE) and has been a publicly traded company since 1968.[2] The corporation's purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage-backed securities (MBS),[3] allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (aka "thrifts").[4]
https://en.wikipedia.org/wiki/Fannie_Mae
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in the Tyson's CornerCDP in unincorporated Fairfax County, Virginia.[2][3]
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with Fannie Mae, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", is a variant of the initialism of the company's full name that had been adopted officially for ease of identification.
On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".[4][5][6]
Moody's gave Freddie Mac's preferred stock an investment grade rating of A1 until August 22, 2008, when Warren Buffett said publicly that both Freddie Mac and Fannie Mae had tried to attract him and others. Moody's changed the credit rating on that day to Baa3, the lowest investment grade credit rating. Freddie's senior debt credit rating remains Aaa/AAA from each of the major ratings agencies Moody's, S&P, and Fitch.[7]
As of the start of the conservatorship, the United States Department of the Treasury had contracted to acquire US$1 billion in Freddie Mac senior preferred stock, paying at a rate of 10% per year, and the total investment may subsequently rise to as much as US$100 billion.
https://en.wikipedia.org/wiki/Freddie_Mac

5:32

John Stossel on 2020 Explains The Mortgage Meltdown.

John Stossel on 2020 Explains The Mortgage Meltdown.

John Stossel on 2020 Explains The Mortgage Meltdown.

This is an excerpt from the 10-17-08 20-20 broadcast about government interference in people's lives. This segment discusses the cause of the mortgage meltdown, and what to do about it.

3:44

The Mortgage Meltdown

The Mortgage Meltdown

The Mortgage Meltdown

A snapshot of the mortgage industry

3:49

Mortgage Meltdown Q & A

Mortgage Meltdown Q & A

Mortgage Meltdown Q & A

With the federal government taking over mortgage giants Fannie Mae and Freddie Mac, many homeowners are wondering if their loans will be affected. Vera Gibbons takes viewers' questions.

Financial Crisis Explained: Subprime Mortgage

THE BIG SHORT MOVIE EXPLAINED ANIMIATED

The big short movie small explanation on shorting the housing market, subprime mortgage crisis, and Credit default swaps.
Music by: http://bensound.com

8:50

Bird and Fortune - Subprime Crisis

Bird and Fortune - Subprime Crisis

Bird and Fortune - Subprime Crisis

John Bird and John Fortune (the LongJohns) brilliantly, and accurately, describing the mindset of the investment banking community in this satirical interview.

1:43

Eugene F. Fama on the government's role in the subprime mortgage meltdown

Eugene F. Fama on the government's role in the subprime mortgage meltdown

Eugene F. Fama on the government's role in the subprime mortgage meltdown

review.chicagobooth.edu | In the wake of the 2007–10 financial crisis, the US federal government created new regulations concerning the behavior of banks. But Chicago Booth's Eugene F. Fama says that the government itself played a significant role in creating the crisis by insuring risky loans in the hopes of boosting home ownership.

3:09

EXTREME INEQUALITY: Race and The Mortgage Meltdown

EXTREME INEQUALITY: Race and The Mortgage Meltdown

EXTREME INEQUALITY: Race and The Mortgage Meltdown

http://www.faireconomy.org/dream
Dedrick Muhammad, co-author of, Foreclosed: State of the Dream 2008, comments on why BarackObamas candidacy may have little impact on the racial wealth divide. The mortgage meltdown has revealed a staggering wage and home ownership gap between white and black Americans, one that has changed little since the height of the civil rights era. Indeed, the black homeownership rate is only 47 percent, compared with 75 percent for whites. And, in the subprime fiasco, African-Americans will lose between $72 and $93 billion. Find out here why a further entrenchment of the racial wealth divide looms and what can be done to address it. For more, visit: www.Extremeinequality.org.

14:55

Subprime mortgage crisis documentary

Subprime mortgage crisis documentary

Subprime mortgage crisis documentary

Strong economy growth caused the housing bubble and set up the foundations for the future crisis. In 2007 low interest rates and large inflows of foreign funds created easy credit conditions as the United States entered a subprime mortgage crisis. Read more on http://www.crisiswatch.net/economy/SubprimeMortgageCrisisCauses.html

The Mortgage Meltdown

Scott Pelley reports on the mortgage crisis that's far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession.

published: 14 Dec 2008

Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace.
Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people...

published: 24 Nov 2013

Pbs Frontline Inside the Meltdown

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch the full-length program at Buy the DVD at .
PBS America | Sky 534 | Virgin Media 243 | pbsamerica.co.uk This documentary investigates the causes of the worst financial crisis in 70 years and how the US .
Watch the full-length program at Buy the DVD at .

published: 27 Jan 2017

The 2008 Financial Crisis: Crash Course Economics #12

Today on Crash Course Economics, Adriene and Jacob talk about the 2008 financial crisis and the US Goverment's response to the troubles. So, all this starts with home mortgages, and the use of mortgages as an investment instrument. For years, it seemed like the US housing market would go up and up. Like a bubble or something. It turns out it was a bubble. But not the good kind. And the government response was...interesting. Anyway, why are you reading this? Watch the video!
More Financial Crisis Resources:
Financial Crisis InquiryReport: http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdfTAL: Giant Pool of Money: http://www.thisamericanlife.org/radio-archives/episode/355/the-giant-pool-of-money
Timeline of the crisis: https://www.stlouisfed.org/financial-crisis/full-timeline
htt...

published: 21 Oct 2015

Mortgage Meltdown - Ten Minute Preview

What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'We examine how our interconnected finance systems left the world vulnerable to recession and worse.
Watch the Full film on Journeyman:
http://jman.tv/film/2556/Mortgage+Meltdown
Or for downloads and more information:
http://www.journeyman.tv/?lid=57596
What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'Mortgage Meltdown' examines how our interconnected finance systems left the world vulnerable to a global credit crunch. It traces the current crisis to the fallout from September 11, hearing from the families now facing destitution...

The Causes and Effects of the 2008 Financial Crisis

Meet the California Homeowners Hit Hard by the Housing Crisis

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Crisis?
https://www.youtube.com/watch?v=7V1IMBzH2J8
The Financial Crisis Is Forcing America To Redefine Their Values
https://www.youtube.com/watch?v=Em02NgDczT4
The Small NorwegianTown Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
For downloads and more information visit:
http://www.journeyman.tv/film/4044
Like us on Facebook:
https://www.facebook.com/journeymanpictures
Follow us on Twitter:
https://twitter.com/JourneymanVOD
https://twitter.com/JourneymanNews
Follow ...

published: 13 Jun 2016

13. The Mortgage Meltdown in Cleveland

Capitalism: Success, Crisis and Reform (PLSC 270)
Professor Rae discusses the subprime mortgage crisis. Major actors are presented and analyzed, including homebuyers, brokers, appraisers, lenders, i-banks, and rating and government agencies. Major actors' incentives and risks are assessed. Professor Rae also presents a brief history of government involvement in mortgage markets. Deregulation of the industry and its consequences are explored, and Professor Rae facilitates a discussion on apportioning blame for the collapse of the U.S. housing market.
Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses
This course was recorded in Fall 2009.

Good Explanation of the Subprime Mortgage Crisis

Using RSAnimate technique, provides illustration and explanation of the causes that contributed to the subprime mortgage housing crisis of 2008/2009

published: 03 May 2012

Mortgage Meltdown and Financial Crisis explained in video.

I received an email back in February, 2008. Attached was an anonymous power point explaining (what we thought at the time) was only the mortgage meltdown. This mortgage meltdown led to the current financial crisis. I have taken this power point (cleaned up some of the language) and added the music of Pink Floyd's Money.
Stick figures work their way through the tangled web of the mortgage process. They start with the home buyer and go all the way to where we find ourselves today. They take the complicated and make it simple.
Please enjoy and post any comments.

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. About the book: https://www.amazon.com/gp/product/0990976300/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0990976300&linkCode=as2&tag=tra0c7-20&linkId=59d18b8225ed6599b8b8050a523b67cc
The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. The mortgages of an MBS may be residential or commercial, depending on whether it is an Agency MBS or a Non-Agency MBS; in the United States they may be issued by structures set up by government-sponsored enterprises like Fannie Mae or Freddie Mac, or they can be "private-label", issued by struc...

published: 25 Dec 2015

John Stossel on 2020 Explains The Mortgage Meltdown.

This is an excerpt from the 10-17-08 20-20 broadcast about government interference in people's lives. This segment discusses the cause of the mortgage meltdown, and what to do about it.

published: 20 Oct 2008

The Mortgage Meltdown

A snapshot of the mortgage industry

published: 16 Aug 2007

Mortgage Meltdown Q & A

With the federal government taking over mortgage giants Fannie Mae and Freddie Mac, many homeowners are wondering if their loans will be affected. Vera Gibbons takes viewers' questions.

Financial Crisis Explained: Subprime Mortgage

THE BIG SHORT MOVIE EXPLAINED ANIMIATED

The big short movie small explanation on shorting the housing market, subprime mortgage crisis, and Credit default swaps.
Music by: http://bensound.com

published: 10 Jan 2016

Bird and Fortune - Subprime Crisis

John Bird and John Fortune (the LongJohns) brilliantly, and accurately, describing the mindset of the investment banking community in this satirical interview.

published: 14 Feb 2008

Eugene F. Fama on the government's role in the subprime mortgage meltdown

review.chicagobooth.edu | In the wake of the 2007–10 financial crisis, the US federal government created new regulations concerning the behavior of banks. But Chicago Booth's Eugene F. Fama says that the government itself played a significant role in creating the crisis by insuring risky loans in the hopes of boosting home ownership.

published: 21 Sep 2017

EXTREME INEQUALITY: Race and The Mortgage Meltdown

http://www.faireconomy.org/dream
Dedrick Muhammad, co-author of, Foreclosed: State of the Dream 2008, comments on why BarackObamas candidacy may have little impact on the racial wealth divide. The mortgage meltdown has revealed a staggering wage and home ownership gap between white and black Americans, one that has changed little since the height of the civil rights era. Indeed, the black homeownership rate is only 47 percent, compared with 75 percent for whites. And, in the subprime fiasco, African-Americans will lose between $72 and $93 billion. Find out here why a further entrenchment of the racial wealth divide looms and what can be done to address it. For more, visit: www.Extremeinequality.org.

published: 30 Jan 2009

Subprime mortgage crisis documentary

Strong economy growth caused the housing bubble and set up the foundations for the future crisis. In 2007 low interest rates and large inflows of foreign funds created easy credit conditions as the United States entered a subprime mortgage crisis. Read more on http://www.crisiswatch.net/economy/SubprimeMortgageCrisisCauses.html

Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pus...

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace.
Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people began their fight back. Finally, it asks how the world can prepare for the next crisis even as it recognises that this one is far from over.
We hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.
http://www.RebelMystic.com

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace.
Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people began their fight back. Finally, it asks how the world can prepare for the next crisis even as it recognises that this one is far from over.
We hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.
http://www.RebelMystic.com

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch the full-length program at Buy the DVD at .
PBS America | Sky 534 | Virgin Media 243 | pbsamerica.co.uk This documentary investigates the causes of the worst financial crisis in 70 years and how the US .
Watch the full-length program at Buy the DVD at .

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch the full-length program at Buy the DVD at .
PBS America | Sky 534 | Virgin Media 243 | pbsamerica.co.uk This documentary investigates the causes of the worst financial crisis in 70 years and how the US .
Watch the full-length program at Buy the DVD at .

What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'We examine how our interconnected finance systems left the world vulnerable to recession and worse.
Watch the Full film on Journeyman:
http://jman.tv/film/2556/Mortgage+Meltdown
Or for downloads and more information:
http://www.journeyman.tv/?lid=57596
What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'Mortgage Meltdown' examines how our interconnected finance systems left the world vulnerable to a global credit crunch. It traces the current crisis to the fallout from September 11, hearing from the families now facing destitution while the 'market corrects'. With banks now afraid to lend to each other, the subprime mortgage crisis threatens to push America, and possibly the rest of the world, into recession.
Produced by ABC Australia
Distributed by Journeyman Pictures

What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'We examine how our interconnected finance systems left the world vulnerable to recession and worse.
Watch the Full film on Journeyman:
http://jman.tv/film/2556/Mortgage+Meltdown
Or for downloads and more information:
http://www.journeyman.tv/?lid=57596
What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'Mortgage Meltdown' examines how our interconnected finance systems left the world vulnerable to a global credit crunch. It traces the current crisis to the fallout from September 11, hearing from the families now facing destitution while the 'market corrects'. With banks now afraid to lend to each other, the subprime mortgage crisis threatens to push America, and possibly the rest of the world, into recession.
Produced by ABC Australia
Distributed by Journeyman Pictures

Meet the California Homeowners Hit Hard by the Housing Crisis

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Cri...

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Crisis?
https://www.youtube.com/watch?v=7V1IMBzH2J8
The Financial Crisis Is Forcing America To Redefine Their Values
https://www.youtube.com/watch?v=Em02NgDczT4
The Small NorwegianTown Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
For downloads and more information visit:
http://www.journeyman.tv/film/4044
Like us on Facebook:
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Follow us on Twitter:
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https://twitter.com/JourneymanNews
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This year, millions of homes in the US will be repossessed. Wall Street was aware of the risks involved with sub-prime lending but chose to ignore them. No ethics, just money- here is a story of greed and recklessness
In California, the sub prime crisis has hit homeowners full on. Repossessions have become routine and the foreclosure rate is still accelerating. Neat façades and tidy gardens can't prevent houses being sold for almost half of what they cost a year ago. Pressed for time and money, owners are torn out of their homes: "It's like leaving your children" says Rob. He is hoping the bank will accept a quick sale and forgive the loss, but this is unlikely. Most are made to wait until they default on repayment, which wrecks their credit record. Former bankers reveal how low interest rates were meant to boost the economy. Banks looked for ways to make profit despite low rates and chased high-risk mortgages that would pay 8 or 9%, ignoring the consequences for borrowers if prices fell and interest rates rose again: "There's no perception of the guy in some tiny little house in Detroit or in Philadelphia or in Stockton who basically might be losing their home." Now that the system has failed, banks are less ready to lend money and this impacts on the entire economy. Families lose their homes, businesses fail; Wall Street gambled and the world has to pay.
SBS Australia – Ref. 4044
JourneymanPictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Crisis?
https://www.youtube.com/watch?v=7V1IMBzH2J8
The Financial Crisis Is Forcing America To Redefine Their Values
https://www.youtube.com/watch?v=Em02NgDczT4
The Small NorwegianTown Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
For downloads and more information visit:
http://www.journeyman.tv/film/4044
Like us on Facebook:
https://www.facebook.com/journeymanpictures
Follow us on Twitter:
https://twitter.com/JourneymanVOD
https://twitter.com/JourneymanNews
Follow us on Instagram:
https://instagram.com/journeymanpictures
This year, millions of homes in the US will be repossessed. Wall Street was aware of the risks involved with sub-prime lending but chose to ignore them. No ethics, just money- here is a story of greed and recklessness
In California, the sub prime crisis has hit homeowners full on. Repossessions have become routine and the foreclosure rate is still accelerating. Neat façades and tidy gardens can't prevent houses being sold for almost half of what they cost a year ago. Pressed for time and money, owners are torn out of their homes: "It's like leaving your children" says Rob. He is hoping the bank will accept a quick sale and forgive the loss, but this is unlikely. Most are made to wait until they default on repayment, which wrecks their credit record. Former bankers reveal how low interest rates were meant to boost the economy. Banks looked for ways to make profit despite low rates and chased high-risk mortgages that would pay 8 or 9%, ignoring the consequences for borrowers if prices fell and interest rates rose again: "There's no perception of the guy in some tiny little house in Detroit or in Philadelphia or in Stockton who basically might be losing their home." Now that the system has failed, banks are less ready to lend money and this impacts on the entire economy. Families lose their homes, businesses fail; Wall Street gambled and the world has to pay.
SBS Australia – Ref. 4044
JourneymanPictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.

Capitalism: Success, Crisis and Reform (PLSC 270)
Professor Rae discusses the subprime mortgage crisis. Major actors are presented and analyzed, including homebuyers, brokers, appraisers, lenders, i-banks, and rating and government agencies. Major actors' incentives and risks are assessed. Professor Rae also presents a brief history of government involvement in mortgage markets. Deregulation of the industry and its consequences are explored, and Professor Rae facilitates a discussion on apportioning blame for the collapse of the U.S. housing market.
Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses
This course was recorded in Fall 2009.

Capitalism: Success, Crisis and Reform (PLSC 270)
Professor Rae discusses the subprime mortgage crisis. Major actors are presented and analyzed, including homebuyers, brokers, appraisers, lenders, i-banks, and rating and government agencies. Major actors' incentives and risks are assessed. Professor Rae also presents a brief history of government involvement in mortgage markets. Deregulation of the industry and its consequences are explored, and Professor Rae facilitates a discussion on apportioning blame for the collapse of the U.S. housing market.
Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses
This course was recorded in Fall 2009.

Mortgage Meltdown and Financial Crisis explained in video.

I received an email back in February, 2008. Attached was an anonymous power point explaining (what we thought at the time) was only the mortgage meltdown. This ...

I received an email back in February, 2008. Attached was an anonymous power point explaining (what we thought at the time) was only the mortgage meltdown. This mortgage meltdown led to the current financial crisis. I have taken this power point (cleaned up some of the language) and added the music of Pink Floyd's Money.
Stick figures work their way through the tangled web of the mortgage process. They start with the home buyer and go all the way to where we find ourselves today. They take the complicated and make it simple.
Please enjoy and post any comments.

I received an email back in February, 2008. Attached was an anonymous power point explaining (what we thought at the time) was only the mortgage meltdown. This mortgage meltdown led to the current financial crisis. I have taken this power point (cleaned up some of the language) and added the music of Pink Floyd's Money.
Stick figures work their way through the tangled web of the mortgage process. They start with the home buyer and go all the way to where we find ourselves today. They take the complicated and make it simple.
Please enjoy and post any comments.

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. About the book: https://www.amazon...

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. About the book: https://www.amazon.com/gp/product/0990976300/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0990976300&linkCode=as2&tag=tra0c7-20&linkId=59d18b8225ed6599b8b8050a523b67cc
The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. The mortgages of an MBS may be residential or commercial, depending on whether it is an Agency MBS or a Non-Agency MBS; in the United States they may be issued by structures set up by government-sponsored enterprises like Fannie Mae or Freddie Mac, or they can be "private-label", issued by structures set up by investment banks. The structure of the MBS may be known as "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs. Other types of MBS include collateralized mortgage obligations (CMOs, often structured as real estate mortgage investment conduits) and collateralized debt obligations (CDOs).[1]
The shares of subprime MBSs issued by various structures, such as CMOs, are not identical but rather issued as tranches (French for "slices"), each with a different level of priority in the debt repayment stream, giving them different levels of risk and reward. Tranches—especially the lower-priority, higher-interest tranches—of an MBS are/were often further repackaged and resold as collaterized debt obligations.[2] These subprime MBSs issued by investment banks were a major issue in the subprime mortgage crisis of 2006–8.
The total face value of an MBS decreases over time, because like mortgages, and unlike bonds, and most other fixed-income securities, the principal in an MBS is not paid back as a single payment to the bond holder at maturity but rather is paid along with the interest in each periodic payment (monthly, quarterly, etc.). This decrease in face value is measured by the MBS's "factor", the percentage of the original "face" that remains to be repaid.
https://en.wikipedia.org/wiki/Mortgage-backed_security
The FederalNationalMortgageAssociation (FNMA), commonly known as Fannie Mae, was founded in 1938 during the Great Depression as part of the New Deal. It is a government-sponsored enterprise (GSE) and has been a publicly traded company since 1968.[2] The corporation's purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage-backed securities (MBS),[3] allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (aka "thrifts").[4]
https://en.wikipedia.org/wiki/Fannie_Mae
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in the Tyson's CornerCDP in unincorporated Fairfax County, Virginia.[2][3]
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with Fannie Mae, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", is a variant of the initialism of the company's full name that had been adopted officially for ease of identification.
On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".[4][5][6]
Moody's gave Freddie Mac's preferred stock an investment grade rating of A1 until August 22, 2008, when Warren Buffett said publicly that both Freddie Mac and Fannie Mae had tried to attract him and others. Moody's changed the credit rating on that day to Baa3, the lowest investment grade credit rating. Freddie's senior debt credit rating remains Aaa/AAA from each of the major ratings agencies Moody's, S&P, and Fitch.[7]
As of the start of the conservatorship, the United States Department of the Treasury had contracted to acquire US$1 billion in Freddie Mac senior preferred stock, paying at a rate of 10% per year, and the total investment may subsequently rise to as much as US$100 billion.
https://en.wikipedia.org/wiki/Freddie_Mac

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. About the book: https://www.amazon.com/gp/product/0990976300/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0990976300&linkCode=as2&tag=tra0c7-20&linkId=59d18b8225ed6599b8b8050a523b67cc
The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. The mortgages of an MBS may be residential or commercial, depending on whether it is an Agency MBS or a Non-Agency MBS; in the United States they may be issued by structures set up by government-sponsored enterprises like Fannie Mae or Freddie Mac, or they can be "private-label", issued by structures set up by investment banks. The structure of the MBS may be known as "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs. Other types of MBS include collateralized mortgage obligations (CMOs, often structured as real estate mortgage investment conduits) and collateralized debt obligations (CDOs).[1]
The shares of subprime MBSs issued by various structures, such as CMOs, are not identical but rather issued as tranches (French for "slices"), each with a different level of priority in the debt repayment stream, giving them different levels of risk and reward. Tranches—especially the lower-priority, higher-interest tranches—of an MBS are/were often further repackaged and resold as collaterized debt obligations.[2] These subprime MBSs issued by investment banks were a major issue in the subprime mortgage crisis of 2006–8.
The total face value of an MBS decreases over time, because like mortgages, and unlike bonds, and most other fixed-income securities, the principal in an MBS is not paid back as a single payment to the bond holder at maturity but rather is paid along with the interest in each periodic payment (monthly, quarterly, etc.). This decrease in face value is measured by the MBS's "factor", the percentage of the original "face" that remains to be repaid.
https://en.wikipedia.org/wiki/Mortgage-backed_security
The FederalNationalMortgageAssociation (FNMA), commonly known as Fannie Mae, was founded in 1938 during the Great Depression as part of the New Deal. It is a government-sponsored enterprise (GSE) and has been a publicly traded company since 1968.[2] The corporation's purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage-backed securities (MBS),[3] allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (aka "thrifts").[4]
https://en.wikipedia.org/wiki/Fannie_Mae
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in the Tyson's CornerCDP in unincorporated Fairfax County, Virginia.[2][3]
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with Fannie Mae, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", is a variant of the initialism of the company's full name that had been adopted officially for ease of identification.
On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".[4][5][6]
Moody's gave Freddie Mac's preferred stock an investment grade rating of A1 until August 22, 2008, when Warren Buffett said publicly that both Freddie Mac and Fannie Mae had tried to attract him and others. Moody's changed the credit rating on that day to Baa3, the lowest investment grade credit rating. Freddie's senior debt credit rating remains Aaa/AAA from each of the major ratings agencies Moody's, S&P, and Fitch.[7]
As of the start of the conservatorship, the United States Department of the Treasury had contracted to acquire US$1 billion in Freddie Mac senior preferred stock, paying at a rate of 10% per year, and the total investment may subsequently rise to as much as US$100 billion.
https://en.wikipedia.org/wiki/Freddie_Mac

Eugene F. Fama on the government's role in the subprime mortgage meltdown

review.chicagobooth.edu | In the wake of the 2007–10 financial crisis, the US federal government created new regulations concerning the behavior of banks. But C...

review.chicagobooth.edu | In the wake of the 2007–10 financial crisis, the US federal government created new regulations concerning the behavior of banks. But Chicago Booth's Eugene F. Fama says that the government itself played a significant role in creating the crisis by insuring risky loans in the hopes of boosting home ownership.

review.chicagobooth.edu | In the wake of the 2007–10 financial crisis, the US federal government created new regulations concerning the behavior of banks. But Chicago Booth's Eugene F. Fama says that the government itself played a significant role in creating the crisis by insuring risky loans in the hopes of boosting home ownership.

http://www.faireconomy.org/dream
Dedrick Muhammad, co-author of, Foreclosed: State of the Dream 2008, comments on why BarackObamas candidacy may have little impact on the racial wealth divide. The mortgage meltdown has revealed a staggering wage and home ownership gap between white and black Americans, one that has changed little since the height of the civil rights era. Indeed, the black homeownership rate is only 47 percent, compared with 75 percent for whites. And, in the subprime fiasco, African-Americans will lose between $72 and $93 billion. Find out here why a further entrenchment of the racial wealth divide looms and what can be done to address it. For more, visit: www.Extremeinequality.org.

http://www.faireconomy.org/dream
Dedrick Muhammad, co-author of, Foreclosed: State of the Dream 2008, comments on why BarackObamas candidacy may have little impact on the racial wealth divide. The mortgage meltdown has revealed a staggering wage and home ownership gap between white and black Americans, one that has changed little since the height of the civil rights era. Indeed, the black homeownership rate is only 47 percent, compared with 75 percent for whites. And, in the subprime fiasco, African-Americans will lose between $72 and $93 billion. Find out here why a further entrenchment of the racial wealth divide looms and what can be done to address it. For more, visit: www.Extremeinequality.org.

Subprime mortgage crisis documentary

Strong economy growth caused the housing bubble and set up the foundations for the future crisis. In 2007 low interest rates and large inflows of foreign funds ...

Strong economy growth caused the housing bubble and set up the foundations for the future crisis. In 2007 low interest rates and large inflows of foreign funds created easy credit conditions as the United States entered a subprime mortgage crisis. Read more on http://www.crisiswatch.net/economy/SubprimeMortgageCrisisCauses.html

Strong economy growth caused the housing bubble and set up the foundations for the future crisis. In 2007 low interest rates and large inflows of foreign funds created easy credit conditions as the United States entered a subprime mortgage crisis. Read more on http://www.crisiswatch.net/economy/SubprimeMortgageCrisisCauses.html

Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace.
Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people...

published: 24 Nov 2013

Pbs Frontline Inside the Meltdown

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch the full-length program at Buy the DVD at .
PBS America | Sky 534 | Virgin Media 243 | pbsamerica.co.uk This documentary investigates the causes of the worst financial crisis in 70 years and how the US .
Watch the full-length program at Buy the DVD at .

published: 27 Jan 2017

13. The Mortgage Meltdown in Cleveland

Capitalism: Success, Crisis and Reform (PLSC 270)
Professor Rae discusses the subprime mortgage crisis. Major actors are presented and analyzed, including homebuyers, brokers, appraisers, lenders, i-banks, and rating and government agencies. Major actors' incentives and risks are assessed. Professor Rae also presents a brief history of government involvement in mortgage markets. Deregulation of the industry and its consequences are explored, and Professor Rae facilitates a discussion on apportioning blame for the collapse of the U.S. housing market.
Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses
This course was recorded in Fall 2009.

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. About the book: https://www.amazon.com/gp/product/0990976300/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0990976300&linkCode=as2&tag=tra0c7-20&linkId=59d18b8225ed6599b8b8050a523b67cc
The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. The mortgages of an MBS may be residential or commercial, depending on whether it is an Agency MBS or a Non-Agency MBS; in the United States they may be issued by structures set up by government-sponsored enterprises like Fannie Mae or Freddie Mac, or they can be "private-label", issued by struc...

published: 25 Dec 2015

Meet the California Homeowners Hit Hard by the Housing Crisis

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Crisis?
https://www.youtube.com/watch?v=7V1IMBzH2J8
The Financial Crisis Is Forcing America To Redefine Their Values
https://www.youtube.com/watch?v=Em02NgDczT4
The Small NorwegianTown Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
For downloads and more information visit:
http://www.journeyman.tv/film/4044
Like us on Facebook:
https://www.facebook.com/journeymanpictures
Follow us on Twitter:
https://twitter.com/JourneymanVOD
https://twitter.com/JourneymanNews
Follow ...

published: 13 Jun 2016

Best Documentary of the Housing Market Crash (of 2018?) | Inside the Meltdown | Behind the Big Short

MELTDOWN - The Men Who CrashedThe World - 2017
The first of a four-part investigation into a world of greed and recklessness that led to financial collapse.
In the first episode of Meltdown, we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the throne.
The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929.
But how did it all go so wrong?
Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with ...

Chain of Blame: How Wall Street Caused the Mortgage and CreditCrisis is a 2008 book about the subprime mortgage crisis in the United States by investigative journalists Paul Muolo of National Mortgage News and Mathew Padilla of the Orange County Register. The book has an accompanying website with some excerpts, author biographies and a roundup of events in the subprime mortgage crisis that occurred after the book was printed.
The book analyses the causes of the subprime mortgage crisis in the United States in an attempt to assign responsibility for the collapse of a number of mortgage companies in 2007-2008 and for the sharp rise in mortgage defaults in the wake of the sudden tightening of mortgage credit in the summer and early fall of 2007. The authors find that, while blame can be lai...

Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films

Britain's Financial Collapse : Documentary on the Economic Disaster for Britain (Full Documentary). .Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that .
Britain's Economic Meltdown : Documentary on the DebtCrisis in the UK (Full Documentary). .
The award winning documentary 'Inside Job' [2011 | US] by the veteran crusader, Charles Ferguson is the most insightful and illuminating amongst a number of .

The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a particular risk exposure (such as the default of a borrower) or to assist with obtaining financing. Examples pertinent to this crisis included: the adjustable-rate mortgage; the bundling of subprime mortgages into mortgage-backed securities (MBS) or collateralized debt obligations (CDO) for sale to investors, a type of securitization; and a form of credit insurance called credit default swaps (CDS). The usage of these products expanded dramatically in the years leading up to the crisis. These products vary in complexity and the ease with which they can be valued on the books of financial institutions.
CDO issuance grew from an estimat...

Beyond the Mortgage Meltdown

The current -- and predicted future -- turmoil in the mortgage market highlights an important challenge to the American dream of homeownership: how to make certain that those who enter into homeownership are able to sustain that status, protecting family stability and building equity in a critical asset. Thirty years ago, those who owned homes had fixed rate mortgages and substantial equity, and foreclosure was a rare event. However, many Americans were denied the opportunity to become homeowners because of inefficient mortgage markets, underwriting based more on "rules of thumb" than analysis of the likelihood of loan repayment, and, frequently, discrimination.
By the end of the 1990s, positive changes in all three dimensions helped raise America's homeownership rate, especially for lo...

published: 21 Sep 2007

Lecture 27-Mortgage Meltdown

A 2000United States Department of the Treasury study of lending trends for 305 cities from 1993 to 1998 showed that $467 billion of mortgage lending was made by Community Reinvestment Act (CRA)-covered lenders into low and mid level income (LMI) borrowers and neighborhoods, representing 10% of all U.S. mortgage lending during the period. The majority of these were prime loans. Sub-prime loans made by CRA-covered institutions constituted a 3% market share of LMI loans in 1998, but in the run-up to the crisis, fully 25% of all sub-prime lending occurred at CRA-covered institutions and another 25% of sub-prime loans had some connection with CRA. In addition, an analysis by the Federal Reserve Bank of Dallas in 2009, however, concluded that the CRA was not responsible for the mortgage loan cr...

Keith’s $530,000 four-plex dropped in value to $480,000 during the 2007-09 MortgageMeltdown.
Lessons from the Housing Crisis of 2007-2009 still influence Keith’s investing today. Our guest, DamionLupo, lost worse than Keith at this time. His $20M portfolio imploded.
Damion spent over a million dollars on seminars alone. He recklessly went all-out by purchasing 150 rental units across 7 states more than a decade ago - without regard for cash flow. It crashed.
Today, his firm, Total Control Financial, helps you control your financial future with self-directed IRA and Solo 401K services for optimized retirement planning.
#1 Lesson: Buy for cash flow in astable economic metro markets.
Grab Get RichEducation’s new book at GetRichEducation.com/BookWant more wealth? Vi...

published: 30 Jun 2017

Chicago's Best Ideas: The Mortgage Meltdown and Its Aftermath

If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu.
The spectacular rise and fall of the housing market over the past decade has shaken the foundations of virtually every aspect of our economy. In this CBI, Dean Schill will briefly survey the causes and consequences of the "mortgage meltdown." With the current crisis as a backdrop, he will focus on two or three topics related to his research interests which include (1) whether legal and policy incentives for home ownership are desirable, (2) whether the structure of mortgage law makes sense and (3) the advantages and disadvantages of proposals for resolving the current mortgage crisis. Michael Schill is Dean and Harry N. Wyatt...

Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pus...

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace.
Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people began their fight back. Finally, it asks how the world can prepare for the next crisis even as it recognises that this one is far from over.
We hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.
http://www.RebelMystic.com

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace.
Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people began their fight back. Finally, it asks how the world can prepare for the next crisis even as it recognises that this one is far from over.
We hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.
http://www.RebelMystic.com

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch the full-length program at Buy the DVD at .
PBS America | Sky 534 | Virgin Media 243 | pbsamerica.co.uk This documentary investigates the causes of the worst financial crisis in 70 years and how the US .
Watch the full-length program at Buy the DVD at .

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch the full-length program at Buy the DVD at .
PBS America | Sky 534 | Virgin Media 243 | pbsamerica.co.uk This documentary investigates the causes of the worst financial crisis in 70 years and how the US .
Watch the full-length program at Buy the DVD at .

Capitalism: Success, Crisis and Reform (PLSC 270)
Professor Rae discusses the subprime mortgage crisis. Major actors are presented and analyzed, including homebuyers, brokers, appraisers, lenders, i-banks, and rating and government agencies. Major actors' incentives and risks are assessed. Professor Rae also presents a brief history of government involvement in mortgage markets. Deregulation of the industry and its consequences are explored, and Professor Rae facilitates a discussion on apportioning blame for the collapse of the U.S. housing market.
Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses
This course was recorded in Fall 2009.

Capitalism: Success, Crisis and Reform (PLSC 270)
Professor Rae discusses the subprime mortgage crisis. Major actors are presented and analyzed, including homebuyers, brokers, appraisers, lenders, i-banks, and rating and government agencies. Major actors' incentives and risks are assessed. Professor Rae also presents a brief history of government involvement in mortgage markets. Deregulation of the industry and its consequences are explored, and Professor Rae facilitates a discussion on apportioning blame for the collapse of the U.S. housing market.
Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses
This course was recorded in Fall 2009.

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. About the book: https://www.amazon...

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. About the book: https://www.amazon.com/gp/product/0990976300/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0990976300&linkCode=as2&tag=tra0c7-20&linkId=59d18b8225ed6599b8b8050a523b67cc
The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. The mortgages of an MBS may be residential or commercial, depending on whether it is an Agency MBS or a Non-Agency MBS; in the United States they may be issued by structures set up by government-sponsored enterprises like Fannie Mae or Freddie Mac, or they can be "private-label", issued by structures set up by investment banks. The structure of the MBS may be known as "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs. Other types of MBS include collateralized mortgage obligations (CMOs, often structured as real estate mortgage investment conduits) and collateralized debt obligations (CDOs).[1]
The shares of subprime MBSs issued by various structures, such as CMOs, are not identical but rather issued as tranches (French for "slices"), each with a different level of priority in the debt repayment stream, giving them different levels of risk and reward. Tranches—especially the lower-priority, higher-interest tranches—of an MBS are/were often further repackaged and resold as collaterized debt obligations.[2] These subprime MBSs issued by investment banks were a major issue in the subprime mortgage crisis of 2006–8.
The total face value of an MBS decreases over time, because like mortgages, and unlike bonds, and most other fixed-income securities, the principal in an MBS is not paid back as a single payment to the bond holder at maturity but rather is paid along with the interest in each periodic payment (monthly, quarterly, etc.). This decrease in face value is measured by the MBS's "factor", the percentage of the original "face" that remains to be repaid.
https://en.wikipedia.org/wiki/Mortgage-backed_security
The FederalNationalMortgageAssociation (FNMA), commonly known as Fannie Mae, was founded in 1938 during the Great Depression as part of the New Deal. It is a government-sponsored enterprise (GSE) and has been a publicly traded company since 1968.[2] The corporation's purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage-backed securities (MBS),[3] allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (aka "thrifts").[4]
https://en.wikipedia.org/wiki/Fannie_Mae
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in the Tyson's CornerCDP in unincorporated Fairfax County, Virginia.[2][3]
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with Fannie Mae, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", is a variant of the initialism of the company's full name that had been adopted officially for ease of identification.
On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".[4][5][6]
Moody's gave Freddie Mac's preferred stock an investment grade rating of A1 until August 22, 2008, when Warren Buffett said publicly that both Freddie Mac and Fannie Mae had tried to attract him and others. Moody's changed the credit rating on that day to Baa3, the lowest investment grade credit rating. Freddie's senior debt credit rating remains Aaa/AAA from each of the major ratings agencies Moody's, S&P, and Fitch.[7]
As of the start of the conservatorship, the United States Department of the Treasury had contracted to acquire US$1 billion in Freddie Mac senior preferred stock, paying at a rate of 10% per year, and the total investment may subsequently rise to as much as US$100 billion.
https://en.wikipedia.org/wiki/Freddie_Mac

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. About the book: https://www.amazon.com/gp/product/0990976300/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0990976300&linkCode=as2&tag=tra0c7-20&linkId=59d18b8225ed6599b8b8050a523b67cc
The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. The mortgages of an MBS may be residential or commercial, depending on whether it is an Agency MBS or a Non-Agency MBS; in the United States they may be issued by structures set up by government-sponsored enterprises like Fannie Mae or Freddie Mac, or they can be "private-label", issued by structures set up by investment banks. The structure of the MBS may be known as "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs. Other types of MBS include collateralized mortgage obligations (CMOs, often structured as real estate mortgage investment conduits) and collateralized debt obligations (CDOs).[1]
The shares of subprime MBSs issued by various structures, such as CMOs, are not identical but rather issued as tranches (French for "slices"), each with a different level of priority in the debt repayment stream, giving them different levels of risk and reward. Tranches—especially the lower-priority, higher-interest tranches—of an MBS are/were often further repackaged and resold as collaterized debt obligations.[2] These subprime MBSs issued by investment banks were a major issue in the subprime mortgage crisis of 2006–8.
The total face value of an MBS decreases over time, because like mortgages, and unlike bonds, and most other fixed-income securities, the principal in an MBS is not paid back as a single payment to the bond holder at maturity but rather is paid along with the interest in each periodic payment (monthly, quarterly, etc.). This decrease in face value is measured by the MBS's "factor", the percentage of the original "face" that remains to be repaid.
https://en.wikipedia.org/wiki/Mortgage-backed_security
The FederalNationalMortgageAssociation (FNMA), commonly known as Fannie Mae, was founded in 1938 during the Great Depression as part of the New Deal. It is a government-sponsored enterprise (GSE) and has been a publicly traded company since 1968.[2] The corporation's purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage-backed securities (MBS),[3] allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (aka "thrifts").[4]
https://en.wikipedia.org/wiki/Fannie_Mae
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in the Tyson's CornerCDP in unincorporated Fairfax County, Virginia.[2][3]
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with Fannie Mae, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", is a variant of the initialism of the company's full name that had been adopted officially for ease of identification.
On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".[4][5][6]
Moody's gave Freddie Mac's preferred stock an investment grade rating of A1 until August 22, 2008, when Warren Buffett said publicly that both Freddie Mac and Fannie Mae had tried to attract him and others. Moody's changed the credit rating on that day to Baa3, the lowest investment grade credit rating. Freddie's senior debt credit rating remains Aaa/AAA from each of the major ratings agencies Moody's, S&P, and Fitch.[7]
As of the start of the conservatorship, the United States Department of the Treasury had contracted to acquire US$1 billion in Freddie Mac senior preferred stock, paying at a rate of 10% per year, and the total investment may subsequently rise to as much as US$100 billion.
https://en.wikipedia.org/wiki/Freddie_Mac

Meet the California Homeowners Hit Hard by the Housing Crisis

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Cri...

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Crisis?
https://www.youtube.com/watch?v=7V1IMBzH2J8
The Financial Crisis Is Forcing America To Redefine Their Values
https://www.youtube.com/watch?v=Em02NgDczT4
The Small NorwegianTown Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
For downloads and more information visit:
http://www.journeyman.tv/film/4044
Like us on Facebook:
https://www.facebook.com/journeymanpictures
Follow us on Twitter:
https://twitter.com/JourneymanVOD
https://twitter.com/JourneymanNews
Follow us on Instagram:
https://instagram.com/journeymanpictures
This year, millions of homes in the US will be repossessed. Wall Street was aware of the risks involved with sub-prime lending but chose to ignore them. No ethics, just money- here is a story of greed and recklessness
In California, the sub prime crisis has hit homeowners full on. Repossessions have become routine and the foreclosure rate is still accelerating. Neat façades and tidy gardens can't prevent houses being sold for almost half of what they cost a year ago. Pressed for time and money, owners are torn out of their homes: "It's like leaving your children" says Rob. He is hoping the bank will accept a quick sale and forgive the loss, but this is unlikely. Most are made to wait until they default on repayment, which wrecks their credit record. Former bankers reveal how low interest rates were meant to boost the economy. Banks looked for ways to make profit despite low rates and chased high-risk mortgages that would pay 8 or 9%, ignoring the consequences for borrowers if prices fell and interest rates rose again: "There's no perception of the guy in some tiny little house in Detroit or in Philadelphia or in Stockton who basically might be losing their home." Now that the system has failed, banks are less ready to lend money and this impacts on the entire economy. Families lose their homes, businesses fail; Wall Street gambled and the world has to pay.
SBS Australia – Ref. 4044
JourneymanPictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Crisis?
https://www.youtube.com/watch?v=7V1IMBzH2J8
The Financial Crisis Is Forcing America To Redefine Their Values
https://www.youtube.com/watch?v=Em02NgDczT4
The Small NorwegianTown Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
For downloads and more information visit:
http://www.journeyman.tv/film/4044
Like us on Facebook:
https://www.facebook.com/journeymanpictures
Follow us on Twitter:
https://twitter.com/JourneymanVOD
https://twitter.com/JourneymanNews
Follow us on Instagram:
https://instagram.com/journeymanpictures
This year, millions of homes in the US will be repossessed. Wall Street was aware of the risks involved with sub-prime lending but chose to ignore them. No ethics, just money- here is a story of greed and recklessness
In California, the sub prime crisis has hit homeowners full on. Repossessions have become routine and the foreclosure rate is still accelerating. Neat façades and tidy gardens can't prevent houses being sold for almost half of what they cost a year ago. Pressed for time and money, owners are torn out of their homes: "It's like leaving your children" says Rob. He is hoping the bank will accept a quick sale and forgive the loss, but this is unlikely. Most are made to wait until they default on repayment, which wrecks their credit record. Former bankers reveal how low interest rates were meant to boost the economy. Banks looked for ways to make profit despite low rates and chased high-risk mortgages that would pay 8 or 9%, ignoring the consequences for borrowers if prices fell and interest rates rose again: "There's no perception of the guy in some tiny little house in Detroit or in Philadelphia or in Stockton who basically might be losing their home." Now that the system has failed, banks are less ready to lend money and this impacts on the entire economy. Families lose their homes, businesses fail; Wall Street gambled and the world has to pay.
SBS Australia – Ref. 4044
JourneymanPictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.

published:13 Jun 2016

views:129413

back

Best Documentary of the Housing Market Crash (of 2018?) | Inside the Meltdown | Behind the Big Short

MELTDOWN - The Men Who CrashedThe World - 2017
The first of a four-part investigation into a world of greed and recklessness that led to financial collapse.
...

MELTDOWN - The Men Who CrashedThe World - 2017
The first of a four-part investigation into a world of greed and recklessness that led to financial collapse.
In the first episode of Meltdown, we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the throne.
The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929.
But how did it all go so wrong?
Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place.
Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced 'light touch regulation' - giving bankers a free hand in the marketplace.
All this, and with key players making the wrong financial decisions, saw the world's biggest financial collapse.
Trading Strategies
LiveTrade Coaching
BinaryOptionsCFD's
Futures
Equities
Commodities
FX

MELTDOWN - The Men Who CrashedThe World - 2017
The first of a four-part investigation into a world of greed and recklessness that led to financial collapse.
In the first episode of Meltdown, we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the throne.
The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929.
But how did it all go so wrong?
Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place.
Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced 'light touch regulation' - giving bankers a free hand in the marketplace.
All this, and with key players making the wrong financial decisions, saw the world's biggest financial collapse.
Trading Strategies
LiveTrade Coaching
BinaryOptionsCFD's
Futures
Equities
Commodities
FX

Britain's Financial Collapse : Documentary on the Economic Disaster for Britain (Full Documentary). .Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that .
Britain's Economic Meltdown : Documentary on the DebtCrisis in the UK (Full Documentary). .
The award winning documentary 'Inside Job' [2011 | US] by the veteran crusader, Charles Ferguson is the most insightful and illuminating amongst a number of .

Britain's Financial Collapse : Documentary on the Economic Disaster for Britain (Full Documentary). .Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that .
Britain's Economic Meltdown : Documentary on the DebtCrisis in the UK (Full Documentary). .
The award winning documentary 'Inside Job' [2011 | US] by the veteran crusader, Charles Ferguson is the most insightful and illuminating amongst a number of .

The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a par...

The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a particular risk exposure (such as the default of a borrower) or to assist with obtaining financing. Examples pertinent to this crisis included: the adjustable-rate mortgage; the bundling of subprime mortgages into mortgage-backed securities (MBS) or collateralized debt obligations (CDO) for sale to investors, a type of securitization; and a form of credit insurance called credit default swaps (CDS). The usage of these products expanded dramatically in the years leading up to the crisis. These products vary in complexity and the ease with which they can be valued on the books of financial institutions.
CDO issuance grew from an estimated $20 billion in Q1 2004 to its peak of over $180 billion by Q1 2007, then declined back under $20 billion by Q1 2008. Further, the credit quality of CDO's declined from 2000 to 2007, as the level of subprime and other non-prime mortgage debt increased from 5% to 36% of CDO assets.[118] As described in the section on subprime lending, the CDS and portfolio of CDS called synthetic CDO enabled a theoretically infinite amount to be wagered on the finite value of housing loans outstanding, provided that buyers and sellers of the derivatives could be found. For example, buying a CDS to insure a CDO ended up giving the seller the same risk as if they owned the CDO, when those CDO's became worthless.
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances and providers of repo funding). With increasing distance from the underlying asset these actors relied more and more on indirect information (including FICO scores on creditworthiness, appraisals and due diligence checks by third party organizations, and most importantly the computer models of rating agencies and risk management desks). Instead of spreading risk this provided the ground for fraudulent acts, misjudgments and finally market collapse.[120] In 2005 a group of computer scientists built a computational model for the mechanism of biased ratings produced by rating agencies,[121] which turned out to be adequate to what actually happened in 2006–2008.[citation needed]
Martin Wolf further wrote in June 2009 that certain financial innovations enabled firms to circumvent regulations, such as off-balance sheet financing that affects the leverage or capital cushion reported by major banks, stating: "...an enormous part of what banks did in the early part of this decade – the off-balance-sheet vehicles, the derivatives and the 'shadow banking system' itself – was to find a way round regulation."
http://en.wikipedia.org/wiki/Financial_collapse_of_2007%E2%80%932008

The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a particular risk exposure (such as the default of a borrower) or to assist with obtaining financing. Examples pertinent to this crisis included: the adjustable-rate mortgage; the bundling of subprime mortgages into mortgage-backed securities (MBS) or collateralized debt obligations (CDO) for sale to investors, a type of securitization; and a form of credit insurance called credit default swaps (CDS). The usage of these products expanded dramatically in the years leading up to the crisis. These products vary in complexity and the ease with which they can be valued on the books of financial institutions.
CDO issuance grew from an estimated $20 billion in Q1 2004 to its peak of over $180 billion by Q1 2007, then declined back under $20 billion by Q1 2008. Further, the credit quality of CDO's declined from 2000 to 2007, as the level of subprime and other non-prime mortgage debt increased from 5% to 36% of CDO assets.[118] As described in the section on subprime lending, the CDS and portfolio of CDS called synthetic CDO enabled a theoretically infinite amount to be wagered on the finite value of housing loans outstanding, provided that buyers and sellers of the derivatives could be found. For example, buying a CDS to insure a CDO ended up giving the seller the same risk as if they owned the CDO, when those CDO's became worthless.
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances and providers of repo funding). With increasing distance from the underlying asset these actors relied more and more on indirect information (including FICO scores on creditworthiness, appraisals and due diligence checks by third party organizations, and most importantly the computer models of rating agencies and risk management desks). Instead of spreading risk this provided the ground for fraudulent acts, misjudgments and finally market collapse.[120] In 2005 a group of computer scientists built a computational model for the mechanism of biased ratings produced by rating agencies,[121] which turned out to be adequate to what actually happened in 2006–2008.[citation needed]
Martin Wolf further wrote in June 2009 that certain financial innovations enabled firms to circumvent regulations, such as off-balance sheet financing that affects the leverage or capital cushion reported by major banks, stating: "...an enormous part of what banks did in the early part of this decade – the off-balance-sheet vehicles, the derivatives and the 'shadow banking system' itself – was to find a way round regulation."
http://en.wikipedia.org/wiki/Financial_collapse_of_2007%E2%80%932008

Beyond the Mortgage Meltdown

The current -- and predicted future -- turmoil in the mortgage market highlights an important challenge to the American dream of homeownership: how to make cert...

The current -- and predicted future -- turmoil in the mortgage market highlights an important challenge to the American dream of homeownership: how to make certain that those who enter into homeownership are able to sustain that status, protecting family stability and building equity in a critical asset. Thirty years ago, those who owned homes had fixed rate mortgages and substantial equity, and foreclosure was a rare event. However, many Americans were denied the opportunity to become homeowners because of inefficient mortgage markets, underwriting based more on "rules of thumb" than analysis of the likelihood of loan repayment, and, frequently, discrimination.
By the end of the 1990s, positive changes in all three dimensions helped raise America's homeownership rate, especially for lower-income and minority families. But in part because of excesses that have encouraged and enabled many to support homeownership based solely on debt, without building assets or equity, we are now at serious risk of losing many of those gains.

The current -- and predicted future -- turmoil in the mortgage market highlights an important challenge to the American dream of homeownership: how to make certain that those who enter into homeownership are able to sustain that status, protecting family stability and building equity in a critical asset. Thirty years ago, those who owned homes had fixed rate mortgages and substantial equity, and foreclosure was a rare event. However, many Americans were denied the opportunity to become homeowners because of inefficient mortgage markets, underwriting based more on "rules of thumb" than analysis of the likelihood of loan repayment, and, frequently, discrimination.
By the end of the 1990s, positive changes in all three dimensions helped raise America's homeownership rate, especially for lower-income and minority families. But in part because of excesses that have encouraged and enabled many to support homeownership based solely on debt, without building assets or equity, we are now at serious risk of losing many of those gains.

A 2000United States Department of the Treasury study of lending trends for 305 cities from 1993 to 1998 showed that $467 billion of mortgage lending was made by Community Reinvestment Act (CRA)-covered lenders into low and mid level income (LMI) borrowers and neighborhoods, representing 10% of all U.S. mortgage lending during the period. The majority of these were prime loans. Sub-prime loans made by CRA-covered institutions constituted a 3% market share of LMI loans in 1998, but in the run-up to the crisis, fully 25% of all sub-prime lending occurred at CRA-covered institutions and another 25% of sub-prime loans had some connection with CRA. In addition, an analysis by the Federal Reserve Bank of Dallas in 2009, however, concluded that the CRA was not responsible for the mortgage loan crisis, pointing out that CRA rules have been in place since 1995 whereas the poor lending emerged only a decade later. Furthermore, most sub-prime loans were not made to the LMI borrowers targeted by the CRA, especially in the years 2005–2006 leading up to the crisis. Nor did it find any evidence that lending under the CRA rules increased delinquency rates or that the CRA indirectly influenced independent mortgage lenders to ramp up sub-prime lending.
To other analysts the delay between CRA rule changes (in 1995) and the explosion of subprime lending is not surprising, and does not exonerate the CRA. They contend that there were two, connected causes to the crisis: the relaxation of underwriting standards in 1995 and the ultra-low interest rates initiated by the Federal Reserve after the terrorist attack on September 11, 2001. Both causes had to be in place before the crisis could take place.[48] Critics also point out that publicly announced CRA loan commitments were massive, totaling $4.5 trillion in the years between 1994 and 2007.[49] They also argue that the Federal Reserve’s classification of CRA loans as “prime” is based on the faulty and self-serving assumption: that high-interest-rate loans (3 percentage points over average) equal “subprime” loans.[50]
Others have pointed out that there were not enough of these loans made to cause a crisis of this magnitude. In an article in Portfolio Magazine, Michael Lewis spoke with one trader who noted that "There weren’t enough Americans with [bad] credit taking out [bad loans] to satisfy investors' appetite for the end product." Essentially, investment banks and hedge funds used financial innovation to enable large wagers to be made, far beyond the actual value of the underlying mortgage loans, using derivatives called credit default swaps, collateralized debt obligations and synthetic CDOs.[51]
As ofMarch 2011 the FDIC has had to pay out $9 billion to cover losses on bad loans at 165 failed financial institutions.[52] The Congressional Budget Office estimated, in June 2011, that the bailout to Fannie Mae and Freddie Mac exceeds $300 billion (calculated by adding the fair value deficits of the entities to the direct bailout funds at the time).[53]
EconomistPaul Krugman argued in January 2010 that the simultaneous growth of the residential and commercial real estate pricing bubbles and the global nature of the crisis undermines the case made by those who argue that Fannie Mae, Freddie Mac, CRA, or predatory lending were primary causes of the crisis. In other words, bubbles in both markets developed even though only the residential market was affected by these potential causes.[54]
Countering Krugman, Peter J. Wallison wrote: "It is not true that every bubble—even a large bubble—has the potential to cause a financial crisis when it deflates." Wallison notes that other developed countries had "large bubbles during the 1997–2007 period" but "the losses associated with mortgage delinquencies and defaults when these bubbles deflated were far lower than the losses suffered in the United States when the 1997–2007 [bubble] deflated." According to Wallison, the reason the U.S. residential housing bubble (as opposed to other types of bubbles) led to financial crisis was that it was supported by a huge number of substandard loans – generally with low or no downpayments.
http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%9308

A 2000United States Department of the Treasury study of lending trends for 305 cities from 1993 to 1998 showed that $467 billion of mortgage lending was made by Community Reinvestment Act (CRA)-covered lenders into low and mid level income (LMI) borrowers and neighborhoods, representing 10% of all U.S. mortgage lending during the period. The majority of these were prime loans. Sub-prime loans made by CRA-covered institutions constituted a 3% market share of LMI loans in 1998, but in the run-up to the crisis, fully 25% of all sub-prime lending occurred at CRA-covered institutions and another 25% of sub-prime loans had some connection with CRA. In addition, an analysis by the Federal Reserve Bank of Dallas in 2009, however, concluded that the CRA was not responsible for the mortgage loan crisis, pointing out that CRA rules have been in place since 1995 whereas the poor lending emerged only a decade later. Furthermore, most sub-prime loans were not made to the LMI borrowers targeted by the CRA, especially in the years 2005–2006 leading up to the crisis. Nor did it find any evidence that lending under the CRA rules increased delinquency rates or that the CRA indirectly influenced independent mortgage lenders to ramp up sub-prime lending.
To other analysts the delay between CRA rule changes (in 1995) and the explosion of subprime lending is not surprising, and does not exonerate the CRA. They contend that there were two, connected causes to the crisis: the relaxation of underwriting standards in 1995 and the ultra-low interest rates initiated by the Federal Reserve after the terrorist attack on September 11, 2001. Both causes had to be in place before the crisis could take place.[48] Critics also point out that publicly announced CRA loan commitments were massive, totaling $4.5 trillion in the years between 1994 and 2007.[49] They also argue that the Federal Reserve’s classification of CRA loans as “prime” is based on the faulty and self-serving assumption: that high-interest-rate loans (3 percentage points over average) equal “subprime” loans.[50]
Others have pointed out that there were not enough of these loans made to cause a crisis of this magnitude. In an article in Portfolio Magazine, Michael Lewis spoke with one trader who noted that "There weren’t enough Americans with [bad] credit taking out [bad loans] to satisfy investors' appetite for the end product." Essentially, investment banks and hedge funds used financial innovation to enable large wagers to be made, far beyond the actual value of the underlying mortgage loans, using derivatives called credit default swaps, collateralized debt obligations and synthetic CDOs.[51]
As ofMarch 2011 the FDIC has had to pay out $9 billion to cover losses on bad loans at 165 failed financial institutions.[52] The Congressional Budget Office estimated, in June 2011, that the bailout to Fannie Mae and Freddie Mac exceeds $300 billion (calculated by adding the fair value deficits of the entities to the direct bailout funds at the time).[53]
EconomistPaul Krugman argued in January 2010 that the simultaneous growth of the residential and commercial real estate pricing bubbles and the global nature of the crisis undermines the case made by those who argue that Fannie Mae, Freddie Mac, CRA, or predatory lending were primary causes of the crisis. In other words, bubbles in both markets developed even though only the residential market was affected by these potential causes.[54]
Countering Krugman, Peter J. Wallison wrote: "It is not true that every bubble—even a large bubble—has the potential to cause a financial crisis when it deflates." Wallison notes that other developed countries had "large bubbles during the 1997–2007 period" but "the losses associated with mortgage delinquencies and defaults when these bubbles deflated were far lower than the losses suffered in the United States when the 1997–2007 [bubble] deflated." According to Wallison, the reason the U.S. residential housing bubble (as opposed to other types of bubbles) led to financial crisis was that it was supported by a huge number of substandard loans – generally with low or no downpayments.
http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%9308

Keith’s $530,000 four-plex dropped in value to $480,000 during the 2007-09 MortgageMeltdown.
Lessons from the Housing Crisis of 2007-2009 still influence Keith’s investing today. Our guest, DamionLupo, lost worse than Keith at this time. His $20M portfolio imploded.
Damion spent over a million dollars on seminars alone. He recklessly went all-out by purchasing 150 rental units across 7 states more than a decade ago - without regard for cash flow. It crashed.
Today, his firm, Total Control Financial, helps you control your financial future with self-directed IRA and Solo 401K services for optimized retirement planning.
#1 Lesson: Buy for cash flow in astable economic metro markets.
Grab Get RichEducation’s new book at GetRichEducation.com/BookWant more wealth? Visit: 1) www.GetRichEducation.com to grab our free newsletter. 2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.
Listen to this week’s show and learn:
00:57 Keith’s $530,000 four-plex dropped in value to $480,000 in the 2007-09 Mortgage Meltdown.
15:37 If Damion could do it all over again, what would he do differently?
20:04 Harvesting equity.
24:29 Damion won’t do deals with people in their 20s.
26:30 The next crash.
34:14 Hard money loans.
42:25 Retirement.
49:26 Choose stable markets in the Midwest and South.
Resources Mentioned:
TotalControlFinancial.com
Investopedia.com
NoradaRealEstate.com
HighlandsMortgage.com
MidSouthHomeBuyers.com
GetRichEducation.com
GREturnkey.com

Keith’s $530,000 four-plex dropped in value to $480,000 during the 2007-09 MortgageMeltdown.
Lessons from the Housing Crisis of 2007-2009 still influence Keith’s investing today. Our guest, DamionLupo, lost worse than Keith at this time. His $20M portfolio imploded.
Damion spent over a million dollars on seminars alone. He recklessly went all-out by purchasing 150 rental units across 7 states more than a decade ago - without regard for cash flow. It crashed.
Today, his firm, Total Control Financial, helps you control your financial future with self-directed IRA and Solo 401K services for optimized retirement planning.
#1 Lesson: Buy for cash flow in astable economic metro markets.
Grab Get RichEducation’s new book at GetRichEducation.com/BookWant more wealth? Visit: 1) www.GetRichEducation.com to grab our free newsletter. 2) www.GREturnkey.com for actionable turnkey real estate investing opportunities.
Listen to this week’s show and learn:
00:57 Keith’s $530,000 four-plex dropped in value to $480,000 in the 2007-09 Mortgage Meltdown.
15:37 If Damion could do it all over again, what would he do differently?
20:04 Harvesting equity.
24:29 Damion won’t do deals with people in their 20s.
26:30 The next crash.
34:14 Hard money loans.
42:25 Retirement.
49:26 Choose stable markets in the Midwest and South.
Resources Mentioned:
TotalControlFinancial.com
Investopedia.com
NoradaRealEstate.com
HighlandsMortgage.com
MidSouthHomeBuyers.com
GetRichEducation.com
GREturnkey.com

Chicago's Best Ideas: The Mortgage Meltdown and Its Aftermath

If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago....

If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu.
The spectacular rise and fall of the housing market over the past decade has shaken the foundations of virtually every aspect of our economy. In this CBI, Dean Schill will briefly survey the causes and consequences of the "mortgage meltdown." With the current crisis as a backdrop, he will focus on two or three topics related to his research interests which include (1) whether legal and policy incentives for home ownership are desirable, (2) whether the structure of mortgage law makes sense and (3) the advantages and disadvantages of proposals for resolving the current mortgage crisis. Michael Schill is Dean and Harry N. WyattProfessor of Law at the University of Chicago Law School.

If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu.
The spectacular rise and fall of the housing market over the past decade has shaken the foundations of virtually every aspect of our economy. In this CBI, Dean Schill will briefly survey the causes and consequences of the "mortgage meltdown." With the current crisis as a backdrop, he will focus on two or three topics related to his research interests which include (1) whether legal and policy incentives for home ownership are desirable, (2) whether the structure of mortgage law makes sense and (3) the advantages and disadvantages of proposals for resolving the current mortgage crisis. Michael Schill is Dean and Harry N. WyattProfessor of Law at the University of Chicago Law School.

Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace.
Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people began their fight back. Finally, it asks how the world can prepare for the next crisis even as it recognises that this one is far from over.
We hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.
http://www.RebelMystic.com

56:23

Pbs Frontline Inside the Meltdown

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch th...

Pbs Frontline Inside the Meltdown

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch the full-length program at Buy the DVD at .
PBS America | Sky 534 | Virgin Media 243 | pbsamerica.co.uk This documentary investigates the causes of the worst financial crisis in 70 years and how the US .
Watch the full-length program at Buy the DVD at .

Mortgage Meltdown - Ten Minute Preview

What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'We examine how our interconnected finance systems left the world vulnerable to recession and worse.
Watch the Full film on Journeyman:
http://jman.tv/film/2556/Mortgage+Meltdown
Or for downloads and more information:
http://www.journeyman.tv/?lid=57596
What will be the global fallout of the US subprime mortgage crisis? How can unscrupulous mortgage brokers in America send world stock markets into a spin? 'Mortgage Meltdown' examines how our interconnected finance systems left the world vulnerable to a global credit crunch. It traces the current crisis to the fallout from September 11, hearing from the families now facing destitution while the 'market corrects'. With banks now afraid to lend to each other, the subprime mortgage crisis threatens to push America, and possibly the rest of the world, into recession.
Produced by ABC Australia
Distributed by Journeyman Pictures

11:11

The Causes and Effects of the 2008 Financial Crisis

The Crisis of Credit Visualized by Jonathan Jarvis
http://cashmoneylife.com/economic-fina...

Meet the California Homeowners Hit Hard by the Housing Crisis

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Crisis?
https://www.youtube.com/watch?v=7V1IMBzH2J8
The Financial Crisis Is Forcing America To Redefine Their Values
https://www.youtube.com/watch?v=Em02NgDczT4
The Small NorwegianTown Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Subscribe to journeyman for daily uploads:
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This year, millions of homes in the US will be repossessed. Wall Street was aware of the risks involved with sub-prime lending but chose to ignore them. No ethics, just money- here is a story of greed and recklessness
In California, the sub prime crisis has hit homeowners full on. Repossessions have become routine and the foreclosure rate is still accelerating. Neat façades and tidy gardens can't prevent houses being sold for almost half of what they cost a year ago. Pressed for time and money, owners are torn out of their homes: "It's like leaving your children" says Rob. He is hoping the bank will accept a quick sale and forgive the loss, but this is unlikely. Most are made to wait until they default on repayment, which wrecks their credit record. Former bankers reveal how low interest rates were meant to boost the economy. Banks looked for ways to make profit despite low rates and chased high-risk mortgages that would pay 8 or 9%, ignoring the consequences for borrowers if prices fell and interest rates rose again: "There's no perception of the guy in some tiny little house in Detroit or in Philadelphia or in Stockton who basically might be losing their home." Now that the system has failed, banks are less ready to lend money and this impacts on the entire economy. Families lose their homes, businesses fail; Wall Street gambled and the world has to pay.
SBS Australia – Ref. 4044
JourneymanPictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.

13. The Mortgage Meltdown in Cleveland

Capitalism: Success, Crisis and Reform (PLSC 270)
Professor Rae discusses the subprime mortgage crisis. Major actors are presented and analyzed, including homebuyers, brokers, appraisers, lenders, i-banks, and rating and government agencies. Major actors' incentives and risks are assessed. Professor Rae also presents a brief history of government involvement in mortgage markets. Deregulation of the industry and its consequences are explored, and Professor Rae facilitates a discussion on apportioning blame for the collapse of the U.S. housing market.
Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses
This course was recorded in Fall 2009.

10:55

Global Financial Crisis Explained

The Short and Simple Story of the Credit Crisis.
By Jonathan Jarvis.
Crisisofcredit....

Mortgage Meltdown and Financial Crisis explained in video.

I received an email back in February, 2008. Attached was an anonymous power point explaining (what we thought at the time) was only the mortgage meltdown. This mortgage meltdown led to the current financial crisis. I have taken this power point (cleaned up some of the language) and added the music of Pink Floyd's Money.
Stick figures work their way through the tangled web of the mortgage process. They start with the home buyer and go all the way to where we find ourselves today. They take the complicated and make it simple.
Please enjoy and post any comments.

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. About the book: https://www.amazon.com/gp/product/0990976300/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0990976300&linkCode=as2&tag=tra0c7-20&linkId=59d18b8225ed6599b8b8050a523b67cc
The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. The mortgages of an MBS may be residential or commercial, depending on whether it is an Agency MBS or a Non-Agency MBS; in the United States they may be issued by structures set up by government-sponsored enterprises like Fannie Mae or Freddie Mac, or they can be "private-label", issued by structures set up by investment banks. The structure of the MBS may be known as "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs. Other types of MBS include collateralized mortgage obligations (CMOs, often structured as real estate mortgage investment conduits) and collateralized debt obligations (CDOs).[1]
The shares of subprime MBSs issued by various structures, such as CMOs, are not identical but rather issued as tranches (French for "slices"), each with a different level of priority in the debt repayment stream, giving them different levels of risk and reward. Tranches—especially the lower-priority, higher-interest tranches—of an MBS are/were often further repackaged and resold as collaterized debt obligations.[2] These subprime MBSs issued by investment banks were a major issue in the subprime mortgage crisis of 2006–8.
The total face value of an MBS decreases over time, because like mortgages, and unlike bonds, and most other fixed-income securities, the principal in an MBS is not paid back as a single payment to the bond holder at maturity but rather is paid along with the interest in each periodic payment (monthly, quarterly, etc.). This decrease in face value is measured by the MBS's "factor", the percentage of the original "face" that remains to be repaid.
https://en.wikipedia.org/wiki/Mortgage-backed_security
The FederalNationalMortgageAssociation (FNMA), commonly known as Fannie Mae, was founded in 1938 during the Great Depression as part of the New Deal. It is a government-sponsored enterprise (GSE) and has been a publicly traded company since 1968.[2] The corporation's purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage-backed securities (MBS),[3] allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (aka "thrifts").[4]
https://en.wikipedia.org/wiki/Fannie_Mae
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in the Tyson's CornerCDP in unincorporated Fairfax County, Virginia.[2][3]
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with Fannie Mae, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", is a variant of the initialism of the company's full name that had been adopted officially for ease of identification.
On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".[4][5][6]
Moody's gave Freddie Mac's preferred stock an investment grade rating of A1 until August 22, 2008, when Warren Buffett said publicly that both Freddie Mac and Fannie Mae had tried to attract him and others. Moody's changed the credit rating on that day to Baa3, the lowest investment grade credit rating. Freddie's senior debt credit rating remains Aaa/AAA from each of the major ratings agencies Moody's, S&P, and Fitch.[7]
As of the start of the conservatorship, the United States Department of the Treasury had contracted to acquire US$1 billion in Freddie Mac senior preferred stock, paying at a rate of 10% per year, and the total investment may subsequently rise to as much as US$100 billion.
https://en.wikipedia.org/wiki/Freddie_Mac

5:32

John Stossel on 2020 Explains The Mortgage Meltdown.

This is an excerpt from the 10-17-08 20-20 broadcast about government interference in peop...

Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films

Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that pushed 30 million people into unemployment, brought countries to the edge of insolvency and turned the clock back to 1929.
But how did it all go so wrong? Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place. Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced "light touch regulation" - giving bankers a free hand in the marketplace.
Meltdown moves on to examine the epidemic of fear that caused the world's banks to stop lending and how the people began their fight back. Finally, it asks how the world can prepare for the next crisis even as it recognises that this one is far from over.
We hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.
http://www.RebelMystic.com

56:23

Pbs Frontline Inside the Meltdown

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch th...

Pbs Frontline Inside the Meltdown

Watch the full-length program at Inside the Meltdown, watch online or on air .
Watch the full-length program at Buy the DVD at .
PBS America | Sky 534 | Virgin Media 243 | pbsamerica.co.uk This documentary investigates the causes of the worst financial crisis in 70 years and how the US .
Watch the full-length program at Buy the DVD at .

13. The Mortgage Meltdown in Cleveland

Capitalism: Success, Crisis and Reform (PLSC 270)
Professor Rae discusses the subprime mortgage crisis. Major actors are presented and analyzed, including homebuyers, brokers, appraisers, lenders, i-banks, and rating and government agencies. Major actors' incentives and risks are assessed. Professor Rae also presents a brief history of government involvement in mortgage markets. Deregulation of the industry and its consequences are explored, and Professor Rae facilitates a discussion on apportioning blame for the collapse of the U.S. housing market.
Complete course materials are available at the Open Yale Courses website: http://open.yale.edu/courses
This course was recorded in Fall 2009.

A mortgage-backed security (MBS) is a type of asset-backed security that is secured by a mortgage or collection of mortgages. About the book: https://www.amazon.com/gp/product/0990976300/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0990976300&linkCode=as2&tag=tra0c7-20&linkId=59d18b8225ed6599b8b8050a523b67cc
The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. The mortgages of an MBS may be residential or commercial, depending on whether it is an Agency MBS or a Non-Agency MBS; in the United States they may be issued by structures set up by government-sponsored enterprises like Fannie Mae or Freddie Mac, or they can be "private-label", issued by structures set up by investment banks. The structure of the MBS may be known as "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs. Other types of MBS include collateralized mortgage obligations (CMOs, often structured as real estate mortgage investment conduits) and collateralized debt obligations (CDOs).[1]
The shares of subprime MBSs issued by various structures, such as CMOs, are not identical but rather issued as tranches (French for "slices"), each with a different level of priority in the debt repayment stream, giving them different levels of risk and reward. Tranches—especially the lower-priority, higher-interest tranches—of an MBS are/were often further repackaged and resold as collaterized debt obligations.[2] These subprime MBSs issued by investment banks were a major issue in the subprime mortgage crisis of 2006–8.
The total face value of an MBS decreases over time, because like mortgages, and unlike bonds, and most other fixed-income securities, the principal in an MBS is not paid back as a single payment to the bond holder at maturity but rather is paid along with the interest in each periodic payment (monthly, quarterly, etc.). This decrease in face value is measured by the MBS's "factor", the percentage of the original "face" that remains to be repaid.
https://en.wikipedia.org/wiki/Mortgage-backed_security
The FederalNationalMortgageAssociation (FNMA), commonly known as Fannie Mae, was founded in 1938 during the Great Depression as part of the New Deal. It is a government-sponsored enterprise (GSE) and has been a publicly traded company since 1968.[2] The corporation's purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage-backed securities (MBS),[3] allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (aka "thrifts").[4]
https://en.wikipedia.org/wiki/Fannie_Mae
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in the Tyson's CornerCDP in unincorporated Fairfax County, Virginia.[2][3]
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with Fannie Mae, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases. The name, "Freddie Mac", is a variant of the initialism of the company's full name that had been adopted officially for ease of identification.
On September 7, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".[4][5][6]
Moody's gave Freddie Mac's preferred stock an investment grade rating of A1 until August 22, 2008, when Warren Buffett said publicly that both Freddie Mac and Fannie Mae had tried to attract him and others. Moody's changed the credit rating on that day to Baa3, the lowest investment grade credit rating. Freddie's senior debt credit rating remains Aaa/AAA from each of the major ratings agencies Moody's, S&P, and Fitch.[7]
As of the start of the conservatorship, the United States Department of the Treasury had contracted to acquire US$1 billion in Freddie Mac senior preferred stock, paying at a rate of 10% per year, and the total investment may subsequently rise to as much as US$100 billion.
https://en.wikipedia.org/wiki/Freddie_Mac

23:37

Meet the California Homeowners Hit Hard by the Housing Crisis

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
...

Meet the California Homeowners Hit Hard by the Housing Crisis

Desperate Households (2008): How Wall Street's mistakes are being paid for by homeowners.
For similar stories, see:
Has Wall Street Created Another Housing Crisis?
https://www.youtube.com/watch?v=7V1IMBzH2J8
The Financial Crisis Is Forcing America To Redefine Their Values
https://www.youtube.com/watch?v=Em02NgDczT4
The Small NorwegianTown Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
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This year, millions of homes in the US will be repossessed. Wall Street was aware of the risks involved with sub-prime lending but chose to ignore them. No ethics, just money- here is a story of greed and recklessness
In California, the sub prime crisis has hit homeowners full on. Repossessions have become routine and the foreclosure rate is still accelerating. Neat façades and tidy gardens can't prevent houses being sold for almost half of what they cost a year ago. Pressed for time and money, owners are torn out of their homes: "It's like leaving your children" says Rob. He is hoping the bank will accept a quick sale and forgive the loss, but this is unlikely. Most are made to wait until they default on repayment, which wrecks their credit record. Former bankers reveal how low interest rates were meant to boost the economy. Banks looked for ways to make profit despite low rates and chased high-risk mortgages that would pay 8 or 9%, ignoring the consequences for borrowers if prices fell and interest rates rose again: "There's no perception of the guy in some tiny little house in Detroit or in Philadelphia or in Stockton who basically might be losing their home." Now that the system has failed, banks are less ready to lend money and this impacts on the entire economy. Families lose their homes, businesses fail; Wall Street gambled and the world has to pay.
SBS Australia – Ref. 4044
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Best Documentary of the Housing Market Crash (of 2018?) | Inside the Meltdown | Behind the Big Short

MELTDOWN - The Men Who Crashed The World - 2017
The first of a four-part investigation in...

Best Documentary of the Housing Market Crash (of 2018?) | Inside the Meltdown | Behind the Big Short

MELTDOWN - The Men Who CrashedThe World - 2017
The first of a four-part investigation into a world of greed and recklessness that led to financial collapse.
In the first episode of Meltdown, we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the throne.
The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929.
But how did it all go so wrong?
Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place.
Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced 'light touch regulation' - giving bankers a free hand in the marketplace.
All this, and with key players making the wrong financial decisions, saw the world's biggest financial collapse.
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Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films

Britain's Financial Collapse : Documentary on the Economic Disaster for Britain (Full Documentary). .Meltdown is a four-part investigation into a world of greed and recklessness that brought down the financial world. The show begins with the 2008 crash that .
Britain's Economic Meltdown : Documentary on the DebtCrisis in the UK (Full Documentary). .
The award winning documentary 'Inside Job' [2011 | US] by the veteran crusader, Charles Ferguson is the most insightful and illuminating amongst a number of .

The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a particular risk exposure (such as the default of a borrower) or to assist with obtaining financing. Examples pertinent to this crisis included: the adjustable-rate mortgage; the bundling of subprime mortgages into mortgage-backed securities (MBS) or collateralized debt obligations (CDO) for sale to investors, a type of securitization; and a form of credit insurance called credit default swaps (CDS). The usage of these products expanded dramatically in the years leading up to the crisis. These products vary in complexity and the ease with which they can be valued on the books of financial institutions.
CDO issuance grew from an estimated $20 billion in Q1 2004 to its peak of over $180 billion by Q1 2007, then declined back under $20 billion by Q1 2008. Further, the credit quality of CDO's declined from 2000 to 2007, as the level of subprime and other non-prime mortgage debt increased from 5% to 36% of CDO assets.[118] As described in the section on subprime lending, the CDS and portfolio of CDS called synthetic CDO enabled a theoretically infinite amount to be wagered on the finite value of housing loans outstanding, provided that buyers and sellers of the derivatives could be found. For example, buying a CDS to insure a CDO ended up giving the seller the same risk as if they owned the CDO, when those CDO's became worthless.
This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances and providers of repo funding). With increasing distance from the underlying asset these actors relied more and more on indirect information (including FICO scores on creditworthiness, appraisals and due diligence checks by third party organizations, and most importantly the computer models of rating agencies and risk management desks). Instead of spreading risk this provided the ground for fraudulent acts, misjudgments and finally market collapse.[120] In 2005 a group of computer scientists built a computational model for the mechanism of biased ratings produced by rating agencies,[121] which turned out to be adequate to what actually happened in 2006–2008.[citation needed]
Martin Wolf further wrote in June 2009 that certain financial innovations enabled firms to circumvent regulations, such as off-balance sheet financing that affects the leverage or capital cushion reported by major banks, stating: "...an enormous part of what banks did in the early part of this decade – the off-balance-sheet vehicles, the derivatives and the 'shadow banking system' itself – was to find a way round regulation."
http://en.wikipedia.org/wiki/Financial_collapse_of_2007%E2%80%932008

Chicago's Best Ideas: The Mortgage Meltdown and It...

Mortgage Crisis in a Nutshell - Presented by John ...

In August 2016, a research plane was able to observe something strange in the atmosphere above Alaska's Aleutian Islands, lingering aerosol particle that was enriched with the same kind of uranium used in nuclear fuel and bombs, according to Gizmodo. The observation was the first time that scientists detected a particle free-floating in the atmosphere in over 20 years of plane-based observations ... ... -WN.com, Maureen Foody....

ADDIS ABABA, Ethiopia (AP) -- Ethiopia's defense minister on Saturday ruled out a military takeover a day after the East African nation declared a new state of emergency amid the worst anti-government protests in a quarter-century. The United States said it "strongly disagrees" with the new declaration that effectively bans protests, with a U.S ... He also ruled out a transitional government ... Learn more about our and . ....

One day in August 1995 a man called Foutanga Babani Sissoko walked into the head office of the Dubai Islamic Bank and asked for a loan to buy a car. The manager agreed, and Sissoko invited him home for dinner. It was the prelude, writes the BBC's Brigitte Scheffer, to one of the most audacious confidence tricks of all time. Over dinner, Sissoko made a startling claim ... With these powers, he could take a sum of money and double it ... ....

MEXICOCITY. A strong earthquake shook southern and central Mexico Friday, causing panic less than six months after two devastating quakes that killed hundreds of people. No buildings collapsed, according to early reports. But two towns near the epicenter, in the southern state of Oaxaca, reported damage and state authorities said they had opened emergency shelters ... It was also felt in the states of Guerrero, Puebla and Michoacan ... AFP ... ....

Mexico City – A military helicopter carrying officials assessing damage from a powerful earthquake crashed Friday in southern Mexico, killing 13 people and injuring 15, all of them on the ground. The Oaxaca state prosecutor’s office said in a statement that five women, four men and three children were killed at the crash site and another person died later at the hospital ...Alejandro Murat, neither of whom had serious injuries ... The U.S ... ....

It is highly likely that Khader Ahmed Saleh felt fear in the weeks before he was murdered. And if he did, the wiry young father from London’s tight-knit Somali community would not have been alone ... ....

It is more than 200 years since John Howard and Elizabeth Fry drove through the first reforms in our prison system ... We have thousands of highly dedicated prison officers, committed to supporting prisoners to come off drugs, gain an education and prepare for life back in society. But despite all these efforts, prison remains a deeply disturbing place ... Are Britain’s prisons facing a meltdown?. Read more ... This is only the start ... ....

Shubham Agarwal. The market continued to witness negative surprises which dampened retail investor sentiment. The Nifty rebounded to 10,600 but gave up gains towards the end of the week to close flat. BankNifty remained under limelight as PSU banking stocks saw sharp meltdown. The Bank Nifty underperformed Nifty with loss of 1.23 percent week-over-week ... The next important support below 10,500 is placed at 10,000 with OI of 46 lakh shares....

BUFFALO — Anze Kopitar and the Los Angeles Kings took advantage of the Buffalo Sabres' second-period meltdown to snap a three-game skid and keep pace in the tightly contested Western Conference playoff race. Kopitar and rookie Michael Amadio each had two goals in a 4-2 win, which the Kings broke open by scoring three times on consecutive shots over a span of 5.35 on Saturday afternoon ... 21, 2003 ... "Some nights, we're just not bringing it....

You’ve heard that old cliché. “Don’t tax you. Don’t tax me. Tax that guy behind the tree.” ... Yes, the message from blue state pols is. Tax the rich – just not in my state ... But, yes, that’s the way it is in our Through-the-Looking Glass world of 2018 ... But you would be wrong. The governors of deep blue states like New York and California are having a meltdown over the partial loss of a tax break for their wealthier constituents ... Oh, the horror ... ....

Nearly five years on from Cyprus’s near financial collapse and bailout, Limassol is undergoing a property development boom fuelled by Russian money ...Look to the marina’s east and the skyline is beginning to fill up with high-rise luxury apartment developments ... “Right now, I think we are the Cannes of this part of the world ... It is all far removed from the island’s near financial meltdown at the height of its banking crisis in 2013 ... ....

If you weren't glued to the TV on Saturday taking in all the drama college hoops provided, then you should be kicking yourself ... Here are all of the winners and losers from a wild Saturday in college basketball.Winner ... No ... Loser ... As my colleague Matt Norlander pointed out in his column from Saturday, Kentucky was on the verge of a full-blown meltdown entering the day on a four-game losing streak and in desperate need of a bounce back ... St ... ....